A significant administrative change will see Franz Tost replaced as the head of AlphaTauri’s Formula 1, here is all you need to know about him, his net worth and salary
Franz Tost will be replaced as the team principal of AlphaTauri’s Formula 1 team by Laurent Mekies, the sporting director of Ferrari, in a shocking managerial change.
According to a statement from AlphaTauri, Tost will resign from his post as team principal following the 2023 season.
Tost will step down as team president, and Mekies will join the Italian team at a later date.
BREAKING: @AlphaTauriF1 Team Principal Franz Tost to step down at the end of the year
Ferrari's Laurent Mekies will join as Team Principal #F1 pic.twitter.com/n0eXS77Ovp
— Formula 1 (@F1) April 26, 2023
Peter Bayer, a former executive director of the FIA, will take over as CEO of AlphaTauri later on in the season. He will be in charge of managing the team’s strategic planning at its locations in the UK and Italy.
Ever since Red Bull GmbH successfully acquired the Minardi company at the end of 2005, Tost has been in command of the team. Red Bull GmbH appointed Tost to the position in 2006.
In a wet race at Monza in 2008, Sebastian Vettel won, and in 2020, Pierre Gasly doubled Faenza’s team’s victories. Tost managed two victories for the team while it was known as Scuderia Toro Rosso and Alpha Tauri.
Tost was under scrutiny because of the team’s recent decline in performance, and his recent remarks about having little faith in the AlphaTauri engineers were not well received in the camp.
Tost will continue to work with the team as a consultant beyond the current season.
Who is Franz Tost AlphaTauri Team Principal: Net worth, salary, family, wife, age, career
Born in Trins on January 20, 1956, Franz Tost is a former racing driver from Austria and is currently 67 years old.
At the end of the 2023 Formula One season, he will step down from his position as team principal of the Scuderia AlphaTauri Formula One team.
In 1983, he won the Austrian Formula Ford championship while competing in Formula 3 and Formula Ford.
Tost decided to study Sports Science and Management at the University of Innsbruck after finding he lacked the skills to be a successful Formula One driver.
After graduating, Tost accepted the team manager role at Lechner Racing School. In 1993, he collaborated with Willi Weber, Michael Schumacher’s agent.
Tost first managed the WTS Formula 3 team. On the advice of Weber, Tost went to Japan with a young Ralf Schumacher to watch him compete in the Formula Nippon Series.
In 2000, Ralf Schumacher joined Williams F1. Following him was Tost, the manager of Track-side Operations for Williams’ engine supplier BMW.
He held this position up to January 2006. In 2005, Red Bull bought Minardi and renamed the team Scuderia Torro Rosso.
The team has since changed its name to Scuderia Alpha Tauri, and this is the result of this branding process. Since being hired in 2005, the Austrian has served as Team Principal.
Franz Tost wife
Tost is a very private person who maintains the privacy of his family’s and his own personal issues. Although Mrs. Tost’s name is unknown, Franz Tost is reputed to be a devoted husband and father.
Although there is no evidence to support this claim, Tost is said to be a father.
Franz Tost F1 salary and net worth
By 2023, Franz Tost will have a $5 million net worth.
The only other Team Principals who are wealthier than are Toto Wolff, Christian Horner, and Andreas Seidl.
Tost’s estimated net worth is based primarily on his salary and bonuses because there isn’t much information available about his properties and other assets.
As Team Principal of one of Formula One’s most successful midfield teams, Tost makes a base salary of $1 million annually.
In addition to his regular compensation, the Austrian also gets bonuses for winning races.